Elcora Advanced Materials Corp

ERA.V

Compliant
Exchange
Sector
Headquarters
Group
Canada
Micro cap

Elcora Advanced Materials Corp is Shariah Compliant. It passes 1/5 Shariah standards we screen against.

-

Impure Income*

-

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Micro cap
0
$0.00
$0.00
$0.00
0
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
-100.00%
-846.66%
-1042.47%
0.03
0.03
0.00%

Shariah Compliance

  • Updated on October 23, 2025
Debt
60.44%
✗
Non-Compliant Assets
0.00%
✓
Impure Income

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
22.61%
✓
Impure Income

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
36.71%
✗
Impure Income

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
71.80%
✗
Cash
7.81%
✓
Cash & AR
7.81%
✓
Impure Income

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
71.80%
✗
Cash
7.81%
✓
Cash & AR
7.81%
✓
Impure Income

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
-

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Elcora Advanced Materials Corp. is a Canada-based vertically integrated battery materials company. The Company processes, refines, and produces battery-related minerals and metals. The Company has also developed a process to purify high-quality battery metals and minerals that are commercially scalable. The Company is in the business of mineral exploration in Morocco. The Company, through its wholly owned subsidiary, ERMAZON S.A.R.L. (Ermazon), is focused on developing the Vanadinite/Lead polymetallic deposit into a fully operating mining, processing and refining operation which seeks to produce high-grade Vanadium and Lead concentrates. The Company, through Ermazon, has an operation agreement with Ask-Bo Mines, a limited liability company in Morocco that owns research permits covering an area in the Fez-Meknes region.

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